Leprechaun Review

Since our last visit several weeks ago, Leprechaun hasn’t got any new activation. The product was activated 100 times. It was downloaded for demo testing 507 times.

Leprechaun Robot Review

• It was released on September 1, 2020. The current version is 3.6 that was published half a year ago on September 23, 2020
• We have decided to analyze this EA because the Gold trading robots usually cost from $500 to $25,000. This one costs very little money. So, it was a challenge for us to figure out what’s up with it.

What is behind the Leprechaun Robot?

Leprechaun has an unprofessional presentation that is one-page short. It’s was hard to gather the intel to provide you with a clear vision:

• Leprechaun can work without a need for us to pay attention to it.
• The main strategy to make profits is a Grid of orders.
• The advisor works when Gold trades – during the American trading session.
• It focuses on closing orders on the same day.
• The system can work well only on the high volatile market.
• The advisor was designed to work only on the MT4 platform.
• We may not trade during the calm periods.
• The system needs an ECN account with low spreads to be profitable.

Key Features

• It trades with Gold only.
• The advisor executes orders on the H1 time frame.
• The minimum balance requirements are $100.
• The leverage can be 1:500.
• We can use the system on any broker house.

Trading Strategy

• The robot works with a Grid strategy.
• The advisor trades in the market direction.
• As well, it can execute counter-trend orders – “reverses the balance of trading positions in the trend direction and closes the whole grid of orders is a plus.”
• The advisor executes Martingale when there’s a need to recover the balance.

There’s a single viable screenshot published. It’s a XAU/USD backtest on the M5 time frame. We have no idea why it wasn’t performed on the H1 time frame which the developers mentioned. The spreads were 50 pips. It’s a wide number. The data period united June and September 2020. The initial deposit was $10,000. It has provided $5,787 of the total net profit. The Profit Factor was only 1.05. It’s an unprofessional number. The average one is 1.6 or higher. Leprechaun closed  388 deals. The maximal drawdown was 49.65%. The accuracy rate was 38.55% for Shorts and 81.34% for Longs. The robot has traded with huge drawbacks.

Pricing

No one bought it for $100. So, now the offer costs $33, after falling to $49. The price is too low for a professionally designed advisor. We have no rental options at all. The developer doesn’t support the deal with a money-back guarantee. The system can be downloaded for demo usage, like performing backtests or checking settings.

Trading Performance of Leprechaun

The system has been executing orders on a real $15,000 USD account on a WELTRADE broker. It’s the second account of the developer. The first one had a $3000 deposit. The leverage is 1:500. It works on the MetaTrader 4 platform. It has a verified track record and trading privileges verified. It was created on October 12, 2020. Since then, the absolute gain has become +307.3% when an average monthly gain is +22.98%. The maximum drawdown is 58.83%. The maximum balance was $91,356. Ten traders check the trading account.

Leprechaun has traded 1360 deals with 53,062 pips. An average win is 1584.67 pips when an average loss is much bigger -3045.48 pips. The accuracy rate is 68% for Longs and 64% for Shorts. An average trade length is three days. The Profit Factor is 1.20. We’d like to note it should be a bit higher if it is a professional solution.

The Short position trading has brought -$32,126. It’s strange that the developer hasn’t updated it after this. All profits occurred in the Long direction – $78,220.

The system is most active during the American trading session. It’s absolutely correct for trading Gold.

Monday is still the most active day for trading.

The robot executes orders with high risks to the account balance. If we lose 12 deals in a row we’ll lose 10% of the account balance. There’s 66,56% chance for this to happen.

The robot uses not only Grid but also Hedge with Martingale in trading.

The system doesn’t open more trades because there is no more free margin to open trades safely. This huge Grid is in drawdown.

Profitability has been going down since January 2021.

Customer Support

The developer hasn’t published updates for a long time. We are not sure the support is better.

People Feedback

There are a few reviews compared with the number of purchases. Five comments are against one hundred purchases.

This person mentioned that the developer is a scammer, and we have to stay aside from his trading solutions.

Leprechaun Summary: Worth it or not?

Conclusion

Leprechaun trades XAUUSD focusing on the American trading session. It works with high risks. Anyway, the profitability goes down significantly compared with January 2021. The price is acceptable, but there’s no money-back guarantee provided. Lack of comments shows that something most likely goes wrong.

1/5